RANGERS are set to accept a 12-month transfer ban in return for SFA membership – leaving Ally McCoist just six weeks to bring new players to Ibrox.

Gers last night admitted they would have to agree to the ban – even though they insisted the SFA had jumped the gun by claiming an agreement had already been reached.

Chairman Malcolm Murray said: “For clarity, we have not signed any agreement yet and believe the SFA’s statement to be premature.

“The choice is stark – take sanctions or risk not playing football at all.

“We do not wish to gamble with the club’s future so, under duress, we have taken the difficult decision to accept some sanctions in order to move forward.

“A delayed transfer ban will only be agreed to if the alternative is no football.”

A compromise with Hampden chiefs will allow Charles Green’s newco to make signings before the embargo starts on September 1, as a condition of their membership application being rubber-stamped.

Despite the Court of Session over-ruling an SFA panel’s initial verdict on Rangers’ charge, Ibrox chief executive Green is set to accept the registration embargo as punishment for the previous regime’s misdemeanours.

He will also agree to pay the £160,000 fine dished out as a result of Gers going into administration and bringing the game into disrepute.

Now, McCoist will face a frantic six weeks to rebuild his decimated squad who begin life in the SFL next weekend with a Ramsden’s Cup clash against Brechin.

As a result of accepting the transfer embargo, the SFA revealed last night they expect to grant membership to the association for Gers early next week.

A Hampden statement read: “It has been agreed with Sevco Scotland Ltd that the registration embargo will be accepted as a primary condition of a transfer of membership.

“Sevco have undertaken to accept all other outstanding conditions relating to Oldco’s charges of bringing the game into disrepute.

“The conditional offer of transfer will be submitted to the Appellate Tribunal for consideration.

“The Scottish FA has also received the necessary financial information requested and this is being considered as part of the application process.

“Subject to the completion of all legal documentation, we anticipate transfer of membership next week.”

The agreement reached between Rangers and the SFA means that after September 1, the next available transfer window open to McCoist would be in January 2014.

However, when the ban ends he would be free to sign free agents or players under freedom of contract outwith the window.

Meanwhile, SFL chief David Longmuir insists he has no plans to strip Rangers of League Cups.

The crisis-hit Ibrox club are under investigation from the SPL over their use of EBTs and alleged dual contracts from 2001.

If found guilty the SPL titles and Scottish Cups won during that period could be taken away from Gers.

They also won five League Cups between 2002 and 2010 but Longmuir admits the prospect of stripping Rangers of the trophies is unlikely.

When asked if the SFL would look into, he said: “No, not at this stage. It’s business as usual for the SFL now. I’m not looking back any more.”